MONTREAL, Oct. 28 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is pleased to report that surface stripping on its wholly-owned Magino Mine property has returned values of 17.60 g/t Au over 1 metre and 9.03 g/t Au over 1.1 metres, including 19.86 g/t Au over 0.5 metres. The Magino property lies 1.5 km southwest of the Richmont/Patricia Island Gold Mine, near Wawa, Ontario.
The results were generated by stripping and channel sampling carried out in July 2008 in the vicinity of the south contact of the Webb Lake granodiorite stock and adjacent volcanic rocks. This area lies above the workings of the old Magino gold mine. The purpose of the work, which was in line with the recommendations of the 43-101 report on the property tabled by InnovExplo in June 2008, was to enhance the understanding of the structural controls of gold deposition.
The best results for the stripping and channel sampling program were as follows:
Strip Channel Width Gold Content
No. No. (m) (g/t)
-----------------------------------------
DNo.1 RNo.3 1.0 3.904
DNo.1 RNo.4 0.5 1.072
DNo.1 RNo.5 0.5 0.913
DNo.1 RNo.5 0.5 1.26
DNo.2 RNo.1 1.0 2.249
DNo.2 RNo.2 1.0 1.134
DNo.2 RNo.2 1.0 2.779
DNo.4 RNo.3 1.0 3.669
DNo.4 RNo.5 0.3 1.098
DNo.4 RNo.5 0.5 19.857
DNo.4 RNo.5 0.3 1.104
DNo.4 RNo.6 1.0 17.597
DNo.4 RNo.8 0.5 2.103
DNo.1 RNo.3 1.0 3.904
"The occurrence of gold values in the formations we uncovered at surface has led to a much better understanding of overall system," said Jean-Marc Lacoste, President and Chief Executive Officer of Golden Goose. "We will use this new information to reinterpret the old data available for the area from surface down to 200 metres and to plan additional drilling. This should contribute significantly to our current efforts to upgrade the known resources and add more tonnage."
"The proximity of iron formations combined with the new information gained from the summer work program points us a very promising direction," he added.
The Company is currently working to upgrade the substantial inferred resource of 3.8 million tonnes grading 5.9 g/t Au reported earlier this year (see press release dated May 29, 2008) and to reinterpret the data underlying an earlier estimate of near-surface measured and indicated resources of 7.3 million tonnes grading 2.33 g/t Au. A new 43-101 will be released in the coming weeks.
Gilles Provost, a professional geologist and Qualified Person under NI 43-101, plans and supervises the exploration work on the Magino property and has approved the contents of this press release.
ABOUT GOLDEN GOOSE RESOURCES
Golden Goose Resources Inc. is a Canadian public company listed on the TSX Venture Exchange under the symbol GGR. The Company is principally engaged in mineral exploration and acquisition and has a portfolio of gold, platinum group metals, and nickel properties in Ontario and Quebec.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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